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What are the three different inventory cost-flow assumptions commonly used in commerce today and allowed by generally accepted accounting principles? How does your company, or a company you are familiar with, determine what cost flow assumption it should use? In a period of increasing prices, why would the company tax accountant prefer the last in, first out method while the CEO would prefer first in, first out? Why is this important? · A survey of major U.S. companies revealed that 77% of those companies used either LIFO or FIFO cost flow methods, while 19% used average cost, and only 4% used other methods. Provide brief, yet concise responses to the following questions. a. Why are LIFO and FIFO so popular? b. Since computers and inventory management software are readily available, why are more companies not using specific identification?
How do you calculate the net loss?
stallman company took a physical inventory on december 31 and determined that goods costing 205390 were on hand. not
vorteck inc. manufactures snowsuits. vorteck is considering purchasing a new sewing machine at a cost of 2.5 million.
What will be the implications of the decision of the manager to lay off the 3 experienced sales executives?
On December 31, 2010, the unadjusted balance in Prepaid Insurance was $4,800. This was the amount paid in the middle of the year for a two-year insurance policy with coverage beginning on July 1, 2010. The unadjusted balance in Insurance Expense w..
funtime inc. makes small toys in a one-department production process. plastic is added at the beginning of the process
the tingey company has 300 obsolete microcomputers that are carried in inventory at a total cost of 432000. if these
The truck has an estimated useful life of four years and no residual value. Considering only these facts, depreciation expense (on the truck) for 2009, would be ??
6-2b savage distribution markets cds of the performing artist little sister.nbspnbsp at the beginning of october savage
treetop corp. makes irrigation sprinkler systems for tree nurseries. ramsey roe treetops new controller can find only
Dividend Growth Model
Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2010 and 2011.
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